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Hello. And welcome to the Capital Trust Second Quarter 2012 Results Conference Call. Before we begin, please be advised that the forward-looking statements contained on this conference call are subject to certain risks and uncertainties, including, but not limited to the performance of the company's investments, the timing of collections, its capabilities to repay indebtedness as it comes due, competition for servicing and investment management assignments.

Its ability to originate investments, the availability of capital and the company's tax status, as well as other risks indicated from time to time in the company's Form 10-K and Form 10-Q filings with the Securities and Exchange Commission. The company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events or circumstances.

There will be a question-and-answer session following the conclusion of this presentation. At that time, I will provide instructions for submitting a question to management.

I will now turn the call over to Stephen Plavin, CEO of Capital Trust.

Stephen Plavin

Thank you, [Rio]. Good morning, everyone. Thank you for joining us and for your interest in Capital Trust. With me are Geoff Jervis, our Chief Financial Officer; and Tom Ruffing, our Chief Credit Officer and Head of Asset Management.